Hollywood
Focus sets Ryan Reynolds sci-fi thriller ‘Selfless’ for winter 2015
MUMBAI: As part of the October deal that saw FilmDistrict being absorbed into Focus Features, the latter has taken over distribution of two more titles and announced a new release date for one of them.
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The sci-fi thriller Selfless, starring Ryan Reynolds, originally had been set for September 2014 but now will see day of light on 27 February 2015. It centers on a terminally ill billionaire who buys a chance for eternal life through an experimental underground medical procedure. Focus also will handle the Zac Efron flick That Awkward Moment, which was retitled from Are We Officially Dating? a few months ago. Its release date remains 31 January. Focus said last month that it will release the former FilmDistrict title Insidious: Chapter 3 in April 2015.
Hollywood
David Zaslav could net up to $887m as Warner Bros Discovery sells up
Media mogul strikes gold as Paramount Skydance deal triggers massive windfall
NEW YORK: While the average office worker might hope for a nice clock and a round of applause upon leaving, David Zaslav is looking at a slightly more substantial parting gift. The chief executive officer of Warner Bros Discovery is positioned to receive a windfall of up to $887 million following the company’s blockbuster $110 billion sale to Paramount Skydance.
In a twist of corporate fate that feels scripted for the big screen, the deal marks the finale of a high-stakes bidding war. It comes after Netflix, once the frontrunner, decided to exit stage left and abandon its pursuit of the HBO Max parent company.
While most people receive a standard final paycheck, the filing released on Monday suggests Zaslav’s exit package is built a little differently. If the deal closes as expected in the third quarter of 2026, the numbers break down like this:
The cash out: A severance package of $34.2 million, covering his salary and bonuses.
The equity: $115.8 million in vested shares he already owns.
The future fortune: A massive $517.2 million in unvested share awards, essentially “future stock” that turns into real money the moment the ink dries on the merger.
Perhaps the most eye-catching figure is the $335 million earmarked for tax reimbursements. However, this particular pot of gold has an expiration date.
The company noted that these reimbursements are tied to specific tax-code rules that significantly decline as time passes. If the deal hits a snag and drags into 2027, that tax payout drops to zero. With hundreds of millions on the line, the chief executive officer likely has every incentive to ensure the closing process moves at double-speed.
